Financial news

• Gordon Brown: Here’s an inspiring view of Britishness to defeat the Brexiters

  10-05-2016 23:00
  
  In our nation’s finest moments we were outward looking and engaged with the world. This can be our futureAny spectator could be forgiven for thinking two European referendums were under way: the first, a vote on our economy, the second, on our way of life. Until now, the focus of the remain camp has been trade, jobs and prosperity, while the leave appeal has been to the heart – promising to restore British sovereignty and protect our borders.But years of political experience make it
  
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• Jazz Pharmaceuticals Announces First Quarter 2016 Financial Results - PR Newswire UK (press release)

  10-05-2016 22:09
  
  Jazz Pharmaceuticals Announces First Quarter 2016 Financial Results
  PR Newswire UK (press release)
  DUBLIN, May 10, 2016 /PRNewswire/ -- Jazz Pharmaceuticals plc (Nasdaq: JAZZ) today announced financial results for the first quarter of 2016 and updated financial guidance for 2016. "During the first quarter of 2016, we executed on our business model ...en meer »
  
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• BHS collapse: owner sold main distribution centre to pay off loan

  10-05-2016 21:09
  
  Dominic Chappell oversaw sale of Warwickshire warehouse for £15m with £5m then paid to Retail Acquisitions as an inter-company loanDominic Chappell oversaw the sale of BHS’s main distribution centre for £15m and then used some of the proceeds to pay off a loan he had taken out when buying the retailer.BHS sold its warehouse in Atherstone, Warwickshire, for £15m last August, with £5m then paid to Retail Acquisitions, Chappell’s consortium, as an inter-com
  
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• Hedge funds have a lot to answer for, no wonder they're paid so well

  10-05-2016 20:44
  
  Triumph of sector has been to enter the investment mainstream while clinging to fees that belong to age of bespoke tailoringIt almost makes one feel sorry for Bob Dudley, the BP boss who had to rub along on £14m last year. The calculation, courtesy of Institutional Investor’s Alpha magazine, that the world’s 25 best-paid hedge fund managers collected $13bn between them last year puts rewards for Dudley and co in the shade. The top two on the list – Kenneth Griffin of Cita
  
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• UK trade deficit with EU hits new record

  10-05-2016 20:22
  
  Gap between exports and imports in the first three months of 2016 widened by £0.7bn to nearly £24bnBritain’s trade deficit with other European Union countries is running at a record high level ahead of the referendum next month, official figures show.The latest healthcheck from the Office for National Statistics on goods coming in and going out of the UK reveal that the gap between exports and imports in the first three months of 2016 widened by £0.7bn to £23.9bn. C
  
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• Kipper Williams on the UK's post-Brexit economic outlook

  10-05-2016 20:15
  
  A leading independent economic thinktank has forecast many shocks to sterling, prices, pay and GDP growth if UK voters choose to leave the EU Continue reading...
  
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• Quiet crisis: why battle to prop up Italy's banks is vital to EU stability

  10-05-2016 20:09
  
  Forget Brexit or Grexit, €360bn of bad loans within a fragmented Italian banking sector could be the biggest threat of all
  Even a “small crisis” could trigger a chain of events that would threaten the stability of the European Union, the credit ratings agency Moody’s has said. Brexit – if the UK votes to leave the 28-nation union – or even Grexit – the departure of Greece from the eurozone – are the obvious vulnerabilities.But some commentators beli
  
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• Amazon jumps the price gun as Morrisons staples go online early

  10-05-2016 19:56
  
  Anxious UK grocery sector gets taste of supermarket tie-up with online giant after website accidentally offers up ready-meals, milk and bananasAmazon is poised to start selling fresh groceries including staples such as milk and bananas on the back of its tie-up with supermarket chain Morrisons.Amazon inadvertently made public its listings for Morrisons branded fresh food on Tuesday, including diced chicken breasts, smoked ham slices and ready meals. All had been removed by the end of the day.Con
  
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• House price rises see buy-to-let returns outstrip FTSE 100

  10-05-2016 19:37
  
  Latest property index shows average buy-to-let gains of 9.6% in England and Wales, compared to a fall of 3.9% on the stock marketLandlords in England and Wales made average returns of 9.6% on buy-to-let properties in the year to the end of March, and 16.5% if they bought in London – better than almost any other major class of investment. But returns in some parts of the country were weaker, with the average property investor making a gain of 2.6% in the north-east, and 4.5% in Yorkshire an
  
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• Top 25 hedge fund managers earned $13bn in 2015 – more than some nations

  10-05-2016 19:00
  
  Top earners, Kenneth Griffin and James Simons, made $1.7bn each despite ‘hedge fund killing field’ on Wall Street where many companies lost billions or closedThe world’s top 25 hedge fund managers earned $13bn last year – more than the entire economies of Namibia, the Bahamas or Nicaragua.
  Kenneth Griffin, founder and chief executive of Citadel, and James Simons, founder and chairman of Renaissance Technologies, shared the top spot, taking home $1.7bn each – equival
  
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• California winery hires earthworms to clean up its wastewater

  10-05-2016 18:00
  
  A glass of wine can require as much as 14 gallons of water to make, prompting Fetzer Vineyards to try a wriggly wastewater solution invented in ChileNext time you open a bottle of merlot or chardonnay, be sure to thank the vintner. And you might want to toast the worms, as well. Everyday earthworms are the latest solution to a thorny problem that most wine drinkers never consider: wastewater disposal. Continue reading...
  
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• EU referendum: top economic thinktank warns of post-Brexit shocks

  10-05-2016 17:15
  
  NIESR forecasts sterling to plunge 20% with prices to soar, pay and growth to fall steadily but immigration unlikely to be cut sharplyThe pound would plunge 20% immediately after a Brexit vote in June, according to a leading economic thinktank.The National Institute of Economic and Social Research (NIESR) has also forecast that prices will soar and Britain’s growth rate will be 1% lower next year if there is a vote to leave the EU. Continue reading...
  
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• Here’s how to fix the housing crisis, Sadiq Khan | Danny Dorling

  10-05-2016 13:32
  
  London has the potential to improve its bleak outlook for renters and buyers – which would filter through the UK. But the new mayor will have his work cut outAt the weekend London’s new mayor, Sadiq Khan, outlined his plans for the capital, saying: “The key thing for me is to tackle the housing crisis.” This was welcomed by those of us who have been campaigning on this issue. Less so what followed, with Khan adding: “I am bringing together an alliance of people from
  
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• The great leap upward: China's Pearl River Delta, then and now

  10-05-2016 12:42
  
  The Pearl River Delta has witnessed the most rapid urban expansion in human history – a predominantly agricultural region transformed into the world’s largest continuous city. By revisiting the sites of rare archive images of Hong Kong, Shenzhen, Guangzhou and Macau from the 1940s through 1990s, our photographers have documented this staggering changeThe region where the Pearl River flows into the South China Sea has seen some of the most rapid urban expansion in human history over t
  
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• Hotel Chocolat shares surge on stock market debut

  10-05-2016 10:06
  
  Company valued at more than £200m as shares soar on floatShares in the luxury chocolate maker Hotel Chocolat surged by more than a quarter in their first day of trading on the stock market.The company placed shares on Aim on 5 May at 148p each and they jumped 28% to 190p on Tuesday, valuing the company at about £214m. Continue reading...
  
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• JSW Steel in the fray to acquire Tata Steel UK - Financial Express

  10-05-2016 10:04
  
  Financial Express
  JSW Steel in the fray to acquire Tata Steel UK
  Financial Express
  Yesterday, Tata Steel had said it has taken forward seven EoIs submitted for its UK business to the next stage of the sale process. By: PTI | New Delhi | Published: May 10, 2016 1:32 PM. tata steel-reu-L. JSW Steel has also submitted an EoI for Tata ...
  JSW: Will Tata Steel's UK biz acquisition accrue positives?Business Standardalle 107 nieuwsartikelen »
  
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• Crowdfunding: the boom and buzz explained

  10-05-2016 08:53
  
  This alternative finance is soaring in popularity, but what are the secrets to successful fundraising?Crowdfunding has boomed over the past five years, with entrepreneurs pulling in over £370m via online platforms in 2015. As traditional banks have floundered, so demand for new methods of funding has risen. The Pushing Boundaries report by Nesta says that alternative finance, which includes a range of non-traditional online fundraising methods, has evolved from a “few plucky startups
  
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• Brexit will destroy 'tens of thousands' of financial industry jobs - Business Insider

  10-05-2016 08:38
  
  Business Insider
  Brexit will destroy 'tens of thousands' of financial industry jobs
  Business Insider
  “A vote to leave the EU would put all this at risk,” said Osborne before adding that he had to speak up in order to avoid “catastrophe for business, investment, jobs, and incomes. Some people may think wrecking our economy is a price worth paying but I ...
  Brexit would cost financial firms $25 billion study saysLondon South East (registration) (blog)
  UK's Cameron says leaving E
  
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• Red-hot HMV closing gap on rivals Amazon

  10-05-2016 08:31 via feedproxy.google.com
  
  HMV has reclaimed its position as Britain’s second-biggest entertainment retailer.
  
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• Hung out to dry by Indesit as I’m left to babysit a fire hazard

  10-05-2016 08:00
  
  I was promised my dangerous tumble dryer would be modified in March ... but nothing has been doneI bought an Indesit tumble dryer in 2013. In November 2015 I read media reports about tumble dryers with a potential fire risk and checked the serial number of my machine. It was guilty.I immediately registered it on the Hotpoint website and received an email stating that it would be modified within six weeks. I have since followed the advice not to leave the machine unattended when in use and to cle
  
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• How badger bombs and politics brought Lush sales of £500m

  10-05-2016 06:00
  
  Cosmetics company Lush has managed to combine record sales with controversial campaigns. Don’t expect others to copyLush likes to cause a stink. As well as its smelly shops and package-free produce, a large chunk of the handmade cosmetics company’s time and money is spent on political activism. Far from carefully choosing a few business-friendly good causes, Lush has backed a plethora of controversial causes from Guantanamo prisoners, to hunt saboteurs and the anti-fracking campaign.
  
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